Forex: GBP/USD Trading Higher, Above 1.5200

on Jun 3, 2013
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On Friday the pair opened at 1.5228, met the 1.5239 high, followed by the 1.5140 low and finally closed at 1.5196. Currently in European trading, the price is residing at 1.5260, above last week’s range.

The pair appears to be heading north towards the 1.5300 level, where the 50 percent Fibonacci retracement of 1.5588 to 1.5008 is lying.
The price has entered the area between the MA89 and MA200 on the 5H and daily timeframes. T Looking at the daily and 5H charts, the MA89 is below the MA200.
Resistance levels for today: 1.5240, 1.5275 and 1.5300.
Support levels: 1.5100, 1.5150 and 1.5190.
!fm[](/uploads/story/2675/GBPUSD-Daily-6-03-213.png)

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GBP Forex